tv On the Money NBC March 12, 2017 5:00am-5:29am EDT
hi, everyone. welcome to on the money. i'm becky quick. the new app that lets you see tktss on your windshield but does more technology in cars make driving safer? need a new mattress? one company that hopes you will buy one in a box. should you buy without a try? got the shopping itch? we have the best bargains for march. help wanted. the big business of building big ships needs a whole lot of american workers. plus, he's got an eye for numbers and it may be just as good as his ear for music. our conversation with best-selling musician kenny g. "on the money" starts right now. thnchlgts is >> this i "on the money." your money, your life, your future. now, becky quick. >> we begin with distracted driving. the number of deaths from car accidents in the united states has hit its highest level since
2007 and the reasons range from higher speed limits to drunk driving. but there may be one other big factor. phil lebeau has more. >> reporter: driving in america has become deadlier. the national safety council estimates more than 40,000 people died in car accidents last year, the most since 2007. it caps the steepest two-year rise in auto fatalities since 1964. some of it is because drivers are going faster, as states raise speed limits, while distracted driving remains a huge problem. ironically, highway deaths are rising even as new technologies like lane departure warning systems, are becoming more common. but the national safety council says some of these new systems are being ignored by drivers. >> there are oral warnings, visual warnings. some of these warnings are confusing to drivers and some of them are, the functionality is really not there, so drivers are
turning them off. >> reporter: doug simpson, founder and ceo, thinks he has a way to keep drivers from picking up their phone. since late last year, the company has sold a device that projects text messages, e ma-ma on to a small screen in front of drivers, believing the drivers will not stop texting or calling so a head-up dismay is a safer approach to handle the issue. >> people are going to make phone calls. they are going to use turn by turn navigation. they are going to listen to music. this is a far safer way to do those things in the car than the alternatives. >> reporter: deborah disagrees. >> doing these things don't make drivers safer. they make them more distracted and split attention between the roadway and these other tasks. >> reporter: in fact, many drivers remain their own worst enemies when behind the wheel. that's why auto makers and tech companies are investing more than ever in technology and
systems that will keep us from crashing into other cars and pedestrians but based on the latest numbers, we are a long ways from reducing highway fatalities. phil lebeau, "on the money," chicago. >> can too much technology be a bad thing for drivers? joining us now is robert sinclaire, manager of media relations for aaa northeast. what do you think of an app like this where it's putting your text right up on the windshield in front of you? >> the problem isn't necessarily technology. it's the task that's being done with the technology. the aaa foundation for traffic safety did comprehensive tests going back to 2013 and following the two following years measuring brain waves, heart monitors, tracking the eyes, and we created a scale to show the levels of dangers in using these technologies from 1 to 5 like the hurricane scale. we found things like listening to the radio at number 1, talking on the phone, 2. then we get into the danger
zone, number 3. that's receiving a text, responding to a text. number 4 was updating social media. >> wait, wait. updating social media? people are putting tweets out while driving? >> you can do that in your car with the current state of technology. it's extremely dangerous. the level of distraction gets so bad that a person gets into a zone where they have inattention blindness as it's called, where you might be looking at the road but you're not seeing what's in front of you. we are talking about pedestrians, cyclists, other cars, red lights, stop signs, those sort of things. there's no technology we are aware of right now that would enable you to do these functions while you're driving safely. >> so i understand the founder's point that look, we don't think people are going to stop doing these things. why not come up with a technology that just shuts it off so that it can't happen while you're operating a car? >> we're there. yes. that's what we think should happen. unless and until you can come up with a technology that would enable these things to be done safely. >> i don't think there is any doubt that the rise in deaths is
a direct relation to this. >> yeah, but the government says a quarter to a third of all crashes are the result of some sort of distraction. we are seeing that people are driving more, the past couple years, because gasoline was cheap but they think that being behind the wheel is down time and driving is in and of itself multi-tasking, controlling a heavy object moving at speed. you have to be aware of rules of the road. >> it is a weapon. >> it is a very dangerous weapon, not only to yourself but other people. >> other people on the road. when you bring this up to the auto manufacturers, what do they say to you? none of them wants to be the first to take away things their customers want? >> they will tell you voice activated technologies will mitigate these things. we did a test of voice operated technology and found they are not all created equal. that some are better at recognizing the voice commands and responding to them but others are worse. not only that, in a further study we found there's a hangover effect after using these technologies, that even after you stop using them, your mind is still distracted for 15 to 27 seconds with the worst one. you might be able to do these
technologies, might try to do it at a red light or something like that, but once you start moving even after you stop using them, you are still distracted. your mind is not on the task. >> what does this mean from the government's perspective? >> the government can't possibly keep up with the advance of technology. it just moves too quickly. they have to study things and deliberate and whathave you, then come up with some sort of regulation to deal with it. we think it's up to the consumer. they are ultimately the ones that are going to make the decision as to whether or not they are going to use these technologies. no one is twisting their arms to do this behind the wheel. that's why we hope the information we have, these studies that show that it's dangerous no matter what, that will keep people from doing them when they're driving. >> that's all we can hope, people hear that message. >> so far. yeah. >> robert, thank you very much. i really appreciate your time. it is a very important message. >> thank you for having me. i appreciate it. now here's a look at what's making news as we head into a new week on the money. strong employment report for the month of february. the u.s. economy created 235,000
jobs. that was well above what economists were expecting. the unemployment rate edged down to 4.7% and there was construction. hourly wages up .2%, all of this increasing the likelihood of a fed rate hike next year. it also sent stocks higher in early trading friday after the dow narrowly broke a three day losing streak on thursday. the s&p 500 and nasdaq largely following suit. stocks finished higher on friday. it may not feel like it but americans are richer than ever. u.s. household net worth climbed to a record $92.8 trillion in the fourth quarter of 2016. the surge in stock prices and climb in home values added more than $2 trillion to that number. radio shack is declaring bankruptcy again. the electronics store will close 200 of its remaining 1500 stores. as recently as 2013, it was the eighth largest consumer electronics dealer. the shack now faces more competition from online retailers and other chain
stores. business is booming at shipyards across america. with president trump's plan to build up the military the u.s. navy could add more than 75 new ships to its fleet. that means military builders will be hiring. just one company, huntington ingals will have 4,000 jobs to fill. kate rogers reports from mississippi. >> reporter: 26-year-old jeffrey kofer is a national guard veteran of the iraq war. today he's serving the country in a new way, building ships for the u.s. navy. >> i'm very honored, very proud to be part of it. i know what it feels like to be on the other end of equipment built by american workers. >> reporter: he has been in the apprenticeship program for three years working up to his 8,000 hour requirement for pipefitting. spending time in the classroom learning everything from basic math to naval architecture and working in the shipyard. >> we move around the yard, we see different stages of ship construction. i have seen everything from how material comes into the yard to how the systems are tested and
sold to the navy. >> reporter: he said his past experience pushes him to pay close attention to craftsmanship and detail while on his new job. >> while i was in iraq, of all the things that were a threat to me while i was there, i didn't want something that was avoidable to cause me injury or kill me. so i don't want our sailors to have to fear that as well. you know, i want them to know that the work we do here, the work i do, is quality work. >> reporter: entry level craftsmen like kofer can make between $36,000 and $57,000 a year with opportunity for overtime and benefits. like many in the industry, he's feeling optimistic that donald trump will be good for business if he can make good on his promises, of course, to extend the u.s. navy. >> how is the company feeling about the new administration? >> reporter: well, the ceo does tell us they are feeling optimistic. the environment for ship building has been improving. they are already moving forward with plans to hire the 4,000 workers we talked about.
he thinks trump will be good for business but everybody knows trump does need to get congress to agree to lift the defense sequester which caps spending until 2021. he will feel better if and when that comes to fruition. >> kate, thank you very much. up next, skip the furniture or department store and buy a mattress online. is this a dream come true or potential nightmare? later, the best shopping deals for march. what you should buy now and what you should avoid. first, take a look at how the stock market ended the week. i joined the army in july of '98. i did active duty 11 years. and two in the reserves. our 18 year old was in an accident. when i call usaa it was that voice asking me, "is your daughter ok?" that's where i felt relief.
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component of good health. what you sleep on can be just as important as how much you get. there's a new way to get a bed these days. casper is an online store that will deliver a mattress and box straight to your door. caster's ceo and co-founder joins us. thanks for being here. >> thank you for having me. >> i know everything is online these days but why sell mattresses online? who is buying them? >> so one of the first things we thought about when we had the idea was how do we help consumers avoid the traditional retail experience. buying a mattress in a mattress store ranks as one of the worst consumer experiences in existence. we knew if we wanted to offer a great experience we had to allow customers to avoid the store and let you peruse and learn about the products online at your home. we also believe the only way to n-if a mattress is right for you is to try the at home. >> the only reason i would go to the store to buy a mattress is i want to lay on it, see what it feels like. >> that's what most people think about. but really, laying on a mattress in your street clothes for 15 seconds and making a decision if it's right for you is kind of perverse. people hate that.
they hate that a commissioned salesperson is going to stand over you and try to sell you something that's a lot more expensive than -- >> i will admit the bed bug issue freaks me out a little. we just watched the video of the bed pop out of the box and fill up the room. if i decide i don't like it, how do i cram it back in the box? >> all you do is call us up. you don't have to repackage it. you can get rid of the box when you get the mattress. we pick it up and donate it locally. it's a completely risk-free trial. that way you know if you like it because you sleep on it. that's the best way to determine if it's right for you. >> that makes a lot of sense. take all the hassle and risk out of it. but the whole idea that every mattress is the same, you think there are people who like firm or soft mattresses. all of yours are basically the same? >> it's only one universally comfortable feel. our analog is when you check into a hotel they don't say what kind of mattress do you need and have you fill out a complicated matrix of firmnesses. stores use that as a trick to think you have to go in but there's no reason you need 70
different things -- >> you know what, almost every bed i slept on in a hotel has been okay and hasn't bothered me. what is it? is it a firm mattress, a soft mattress? what's the universal feel? >> we talk about having just the right firmness and just the right sink so it maintains the bounciness you want but supports you with amazing comfort. it really has to do with the design. we went out to build the mattress, we said let's go build the world's most comfortable mattress and it turned out if you used the state of the art materials out there, you can build a universally comfortable mattress. hotels think about it the same way. >> how many returns do you get? what's the percentage? >> we don't break out the percentage. it's always been below what we expected. fortunately, the vast majority of customers love our products, tell friends and family about the products. so we -- >> is it more or less than 20%? >> we don't break it out. it's below what we heard industry averages are. >> you have one mattress that supposedly fits all people but you have a second for dogs. what is this? >> we do. we launched the dog mattress in august.
people love it. it was inspired by customers. one of our most popular posts on social media, when someone unboxes the casper mattress they show willy jumping on the bed and taking a picture and saying willy loves the bed. we thought why not come out with a mattress exclusively designed for our dogs and puppies. it took us months to develop it, but if you see it, it's a great product. people love it. dogs love it. we are really pleased with it. >> thank you very much for joining us. great to see you. >> thank you so much. this was a pleasure. up next, we are on the money. love a good bargain? whether you shop online or in stores, there areh. d we will tell you where to find them. later, smooth jazz and seattle coffee. why both played a big part in kenny g's success. what powers the digital world? communication.
or the it platform that powers millions of ecards every day for one of the largest greeting card companies. businesses count on communication, and weeds. nature's boomerang. mi back. you never invited this stubborn little rascal to your patio. one spray of roundup® max control 365 kills to the root because patios should be for cooking out and kicking back. p® max control 365. draw the line. prevent weeds from coming back for up to one year. march comes in like a lion, goes out like a lamb. somewhere in the middle is a good time to look for bargains.
for what, you mightwe he answer smart shopping expert. thanks for being here. apparel he best thing, you say which seems really weird if you start thinking spring apparel, i would k until after the season. why is now a good time? >> that's right. i thought so, too. i work with a deal site and i have them do digging in their back end to good to buy right now. they said historically there are really good d spring apparel fo women and children. ale thateeing sales like walmart starts at $1.47. that's a good one to look for. american apparel is actually off everything. so there are some good deals to be had. again, it surprising. >> you say this is also a good month for parents of little diapers.com is having a 25 target has a deal if you spend $75 you get a gift card. >> you in
thehe site?ep time, there's not a lot going on. there's not a big sales weekend in march. retailers get creative right a hole in my pocket and i'm looking for a big ticket item. what should i shop for? >> a home small. i'm seeing deals at kohl's, for instance, about 20% off to 25% sears. appliances, great time to you n new onertain things i shouldn't buy this time of year, ple things.ripped out if i go c first, lingerie. >> what? >> yeah. we to buy lingerie. you would think it would be on clearance after valentine's day. victoria's secret leads the pack here. they have their semi-annual sale in june. a lot of their competitors follow suit with kind of similar deals. i would hold off there. i would hold off on home
improvement. those tend to happen around memorial day. then also, tvs. we see really great prices on tvs from black friday all the way up through the super bowl, but now is really not a good time. you might see a deal here and there but you won't have a lot of choice. i would hold off a bit on a tv if you need one. >> you think there are better deals online or in stores? >> a lot of the times we are seeing them flat across the board. we are not seeing big differences in between because a lot of retailers are approaching things more in an omnichannel fashion because some of us like to shop online, in stores, so they are catering to all of us across the board which is kind of nice. then we can shop the way we want. >> great. thank you for joining us today. >> thanks for having me. up next, a look at the news for the week ahead. and kenny g is a music superstar. which business titan left him starstruck? >> i thought this guy is incredible, he's charismatic, he's a winner. we can't stay here!
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cfor clearly visible results in as little as 12 hours. but can it fix this teen's skateboarding mishap? nope. so let's be clear: clearasil works fast on teen acne, not so much on other teen things. here are some of the stories coming up that may impact your money this week. on monday, it is national napping day. you will need it to make up for that hour of sleep you lost to daylight savings time over the weekend. on tuesday, we will get a gauge of wholesale inflation with the producer price index. on wednesday, the consumer price index gives us a read on retail inflation. wednesday, by the way, is also day two of the fed meeting, where the open market committee is widely expected to raise interest rates. thursday marks 18 years since
the dow first kissed 10,000 and on friday, get ready to roll in the green. it is st. patrick's day. you may know kenny g for his easy listening jazz and saxophone playing but there's a lot more to him than music and long hair like his long-time investment with ar >> i never really wanted to study music. i love music, i love playing th it, but i never -- didn't want to actually study the details w chord or that note works with that. i just wanted it to be from my accounting did you do anything with it? >> no. i didn't have to. a alked my dad into giving me couple of years so i could try this music thing. if it worked ou, then i was goi to join my dad's business. a couple years went by and i was doing pretty good so i never had to go back. >> you an pretty smart investor along the way, too. you were one of the early, earlk
how did that happen? how did that whole thing work out? >> everybody knew about starbucks in seattle. therecks oore and it had a reputation for being the best coffee. so i met howard and honestly, i had thought this guy is incredible, he's charismatic, he's a winner. i said whatever you're doing i want to be part of. i invested more because of him being such a dynamic guy, and i'm sure you have spoken to him before, you have seen he's an amazing guy. >> he's stepping down now as ceo. going to be stepping back a little bit. what do you think about that? >> i think that if that's what howard decides is best for starbucks, he's done great so far for making the right decisions. i would never question anything that he thinks is the right thing to do. >> you are more than just an investor. we all know about the albums for sale at starbucks. you were the very first album that they showcased there. >> i think, yeah, it was 1994,a was the first time starbucks gave it a try to sell
for me as well, obviously, it was my record that was being sold. m and decided to for me. continue selling music. yeah, i was happy to be partst . >> do you think the art of get my sax in all related tor hand and play music while i go through the stock reports. doesn't work like that. lucky i ways and -- but i ask smart people what they think before i would invest a large amount of money into anything. >> really interesting guy. it kenny g. that's the show for today. i'm becky quick. thank you so much for joining us. next week, meet a woman who took the plunge creating her own business as a professional mermaid. that's right. you heard that right. you got to see the story. each week keep it right here. we're on the money. have a great one. see you next weekend.
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schedule your eye exam at pearlevision.com. right now on "nbc 10 news today," bitter cold. folks out and aboutd will face more frigid temperatures to die. the blast of bitter weather will be t performing in the st. patrick's we're also tracking snow. it could be the most we've seen all season, when it will be hit hardest coming up in the first alert neighborhood forecast. >> septa riders. we'll tell you about the transit agency's latest move to phase out tokens and make the commut good "nbc 10 news today." thanks for being with us. i'm rosemary connors. it's 5:30 on this sunday. the retu